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APRA issues letter to ADIs on alignment of credit risk management reporting standard with prudential standard

Wednesday 28 October 2020

The Australian Prudential Regulation Authority (APRA) has released a consultation on draft Reporting Standard ARS 220.0 Credit Risk Management (ARS 220.0). APRA has proposed updating ARS 220.0 to align it with the final version of Prudential Standard APS 220 Credit Risk Management released in December 2019.

The consultation letter and draft reporting standard are available on the APRA website at: Proposed revisions to the credit risk management framework for authorised deposit-taking institutions.

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The Australian Prudential Regulation Authority (APRA) is the prudential regulator of the financial services industry. It oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurers, friendly societies, and most members of the superannuation industry. APRA currently supervises institutions holding $6.5 trillion in assets for Australian depositors, policyholders and superannuation fund members.